Thursday was a big day for Form 4 filings from Facebook executives and board members exercising their restricted stock units, as Chief Financial Officer David Ebersman, Chief Operating Officer Sheryl Sandberg, Chief Technology Officer Mike Schroepfer, Vice President and General Counsel Colin Stretch, Chief Accounting Officer Jas Athwal, and Directors Reed Hastings and Erskine Bowles detailed their trading activities to the Securities and Exchange Commission.
Facebook’s 2014 annual meeting will be held Thursday, May 22, at 11 a.m. PT, at the Sofitel San Francisco Bay in Redwood City, Calif., and shareholders will vote on the company’s board of directors, as well as on ratifying the appointment of Ernst & Young as Facebook’s independent registered public accounting firm for the fiscal year ending Dec. 31, and on five other stockholder proposals, the social network revealed in a Schedule 14A filing with the Securities and Exchange Commission.
Facebook Co-Founder and CEO Mark Zuckerberg and five other technology executives met with President Barack Obama at the White House last Friday to discuss the National Security Agency and government surveillance, but the meeting apparently did not adequately address Zuckerberg’s concerns, based on a statement released by the social network.
Seven Facebook executives and directors disclosed their exercising of restricted stock units, resulting conversions of class-B shares in Facebook to class-A common shares, and stock sales in Form 4 filings with the Securities and Exchange Commission Friday.
Facebook followed up Wednesday’s Form 8-K/A filing with the Securities and Exchange Commission, in which it stipulated that non-binding advisory votes on the company’s executives’ compensation will be held every three years, with a host of Form 4 filings detailing the exercising of restricted stock units, by Chief Financial Officer David Ebersman, Vice President and General Counsel Colin Stretch, Chief Technology Officer Mike Schroepfer, Chief Accounting Officer Jas Athwal, and Directors Reed Hastings and Erskine Bowles.
Facebook Co-Founder and CEO Mark Zuckerberg and Chief Operating Officer Sheryl Sandberg received the most withheld votes of the eight members of the social network’s board of directors that were re-elected at its annual meeting Tuesday, according to the Form 8-K Facebook filed with the Securities and Exchange Commission Thursday.
It didn’t take long for Netflix to start informing investors through Facebook. Last week, the Securities and Exchange Commission ruled that companies can keep investors abreast of news through Facebook, Twitter, and other social media sites — a decision largely motivated by Netflix CEO Reed Hastings. Thursday, Hastings took to Facebook to announce that over the past three months, Netflix users have watched 4 billion hours of programming.
Soon, investors will be able to learn more about companies in the same space where they play Candy Crush Saga. The Securities and Exchange Commission declared Tuesday that companies can notify their investors of news through Facebook and Twitter.